HOW PREDICTABLE! HOW WRONG! SEE WHY BELOW, AND HERE.
As home-entertainment revenue declined in the last five years, studios reduced spending on scripts from new writers, cut junior staff positions and severely curtailed deals with producers who once provided entry-level positions for film school graduates. Yet applications to university film, television and digital media programs surged in the last few years as students sought refuge from the weak economy in graduate schools and some colleges opened new programs.
“It’s becoming an increasingly flooded marketplace,” said Andrew Dahm, who in May graduated from the Peter Stark producing program at U.S.C. with a master’s degree and an expectation that he would work for two or three years as a low-paid assistant in lieu of the junior executive jobs that were once common.
THIS AIN'T GOOD FOR FILM GRADUATES, BUT IT AIN'T NO BUBBLE.
AND THE EMPLOYMENT PROBLEMS THOSE GRADUATING WITH LAW DEGREES AIN'T 'CAUSE THERE'S A LAW SCHOOL BUBBLE, EITHER - NO MATTER HOW MANY TIME GLENN REYNOLDS POSTS THAT THERE IS.
AS LINCOLN SAID, CALLING A DOGS LEG A TAIL - AND THEN SAYING DOGS HAVE FIVE LEGS IS BULLSHIT, BECAUSE CALLING A LEG A TAIL DOESN'T MAKE IT A TAIL.
OKAY, I MADE UP THE BULLSHIT PART; LINCOLN DIDN'T SAY THAT. BUT HE SAID THE REST.
INSTAPUNDIT IS WRONG TO LABEL EVERY MISMATCH IN THE MARKETPLACE A BUBBLE. (HE'S DONE LIKE A GAZILLION ILL-CONCEIVED POSTS ON IT. SHEESH.)
BUBBLES ARE SPECIFIC THINGS: A HUGE AND RELATIVELY FAST AND IRRATIONAL RUN-UP IN THE VALUE OF A THING.
LAW DEGREES AND FILM DEGREES HAVE HAD NO SUCH RUN-UP - AND NEITHER HAVE MOST HIGHER EDUCATION DEGREES, DESPITE THE FACT THAT MANY GRADUATES ARE HAVING PROBLEMS GETTING JOBS NOW AND DIDN'T IN EARLIER YEARS.
THEY WERE GOOD DEGREES FOR A LONG TIME AND NOW THEY ARE LESS GOOD. DESPITE BEING MORE EXPENSIVE.
AND THOSE CAUGHT BEHIND THE CURVE GET SCREWED.
THAT'S SAD, BUT THAT'S LIFE. AND NOT A BUBBLE THAT'S BURST.
THE BEST BUGGY WHIP DESIGNER WHO GRADUATED FIRST IN HIS CLASS AT BUGGY WHIP UNIVERSITY WAS NOT A VICTIM OF A BUBBLE IN BUGGY WHIPS.
HE WAS A VICTIM OF REGULAR OL' GARDEN VARIETY PROGRESS IN THE MARKETPLACE.
WAKE UP GLENN, AND SMELL THE TRUTH. WITH THIS INCESSANT AND INCORRECT BUBBLE BLOGGING, YOU'VE BECOME A PARODY OF YOURSELF!